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I assess the activity level of the communities of 4 cryptocurrencies in the L1 discord community by the number of likes in the "announcements" channel:
Figure 1 $kas, market cap 2B$
Figure 2 $sui, 12.8B$
Figure 3 $apt, 3.3B$
Figure 4 $near, 3.6B$
As we can see, the #kaspa community is the most active, but currently has the lowest market cap, not to mention that kas is the fastest, fairly released, with no VC pre-mining.
#near was the star L1 of the last bull market, reaching a market cap of 12B$,
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But it seems that VC funding is holding it up now, and the Discord community is almost dead.
$sui and $apt are the new L1s in this bull market, and the participation in the Discord community is lower than that of $kas. There is a motivation to cash out with market value supported by VC funding, $near is a precedent.
There is a coincidence, I hope I remember correctly, VC invested 200-300 million $, and the market value peaked at around 12B $.
Jump Crypto used about 400 million $ to maintain $luna's peak market value of 40B $.
Market-making funds: market value ≈ 1:100
Supplement:
$kas has been very active in the community/Twitter over the past 4 years, and its technical fundamentals are the strongest. What it lacks may be VC-style funding, but VC funding is not charity; VC coins are definitely going to cash out over a longer period. Moreover, major VC coins start with a market cap of over $1B, and real users can't earn much.
#kaspa takes a completely different path, with many early users earning dozens to hundreds of times their investment.
Non-compliant CEX has become a serious obstacle to the development of kas.
How to break through?
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